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Westpac Weekly Commentary 16.05.2016

Last week’s Financial Stability Report put the run-up in debt (both households and dairy sectors) firmly front and centre. While no new lending restrictions were announced, the RBNZ is clearly mulling over its options. That’s no surprise given rampant credit growth and ongoing broad-based strength in the housing market. We think the RBNZ will feel compelled to leave the sidelines and impose further lending restrictions on banks before the year is out. Read more.…